Advanced Semiconductor Engineering (ASE) announced on September 22 it has purchased 25% shares of Siliconware Precision Industries (SPIL), achieiving its acquisition goal.

As of the expiration of the offer at 3:30 pm Taiwan time and 1:30 am New York City time on September 22, 2015, a total of 1,147,898,165 shares had been validly tendered, representing approximately 36.83% of the issued and outstanding share capital of SPIL, according to ASE.

Although the tendered shares exceeded its target by 779 million units, ASE capped its acquistion at its original goal of 25%.

ASE added it will pay NT$45 per common share and NT$225 per ADS payable in the equivalent amount of US dollars on or before September 30, 2015, in accordance with the terms of the tender offer.

ASE noted that after being a major shareholder of SPIL, the company will be exploring avenues of cooperation with SPIL. Otherwise, ASE's investment in SPIL will be a pure financial investment. ASE will not intervene in SPIL's operations and therefore, cannot affect the rights and interests of SPIL's current employees.

SPIL previously announced plans to form an alliance with Foxconn Electronics (Hon Hai Precision Industry) through share swaps. Foxconn will be able to replace ASE as the largest shareholder of SPIL if the deal obtains approval from SPIL's shareholders at a meeting scheduled for October 15.

SPIL chairman Bough Lin remarked previously that he believes SPIL's vertical alliance with Foxconn should generate better outcomes than a horizontal alliance between it and ASE.